Engel Austria GmbH, a manufacturer of injection molding presses, robots and automation systems, is expecting sales of approximately 1.5 billion euros for fiscal 2017, company leadership said during an Oct. 18 news conference at Fakuma.
The figure represents a 10 percent increase from 2016.
The company cited Industry 4.0 and demand for integrated systems solutions as drivers of growth and expansion across its production facilities.
"I don't see one big thing; I see 20 new things," said Christoph Steger, chief strategy officer of the Engel Group.
By 2020, Engel will have invested 375 million euros in its production facilities worldwide, including the expansion of a large machine plant in St. Valentin, Austria — its largest ongoing construction project to date. CEO Stefan Engleder expects that investment will be even higher as work continues to get underway.
"There's a good mood in the industry," he said.
Engleder alluded to a potential increase in Engel's machinery prices, but he could not provide an exact number for how much prices might go up.
Europe represents Engel's largest market, at 55 percent, with the company increasing sales by 50 percent in Germany alone.